Dr Reddys Laboratories Q2 Results Live: Profit Falls by 15.28% YoY | Company Business News-OxBig News Network

Dr Reddys Laboratories Q2 Results Live : Dr Reddys Laboratories announced its Q2 results on November 5, 2024, revealing a mixed performance. The company’s topline saw a significant increase of 16.45% year-over-year, yet profit fell by 15.28%, indicating challenges in maintaining profitability despite higher revenues.

In comparison to the previous quarter, revenue grew by 4.45%. However, profit experienced a decline of 9.82%, highlighting ongoing pressures on the company’s bottom line. The rise in selling, general, and administrative expenses by 3.5% quarter-over-quarter and 21.37% year-over-year suggests increased operational costs that may be impacting overall profitability.

The operating income also reflected a downward trend, decreasing by 3.99% from the previous quarter and 2.99% year-over-year. Notably, the earnings per share (EPS) for Q2 stood at ₹15.85, which is a stark decrease of 81.27% year-over-year, raising concerns among investors about the company’s earnings capacity.

In terms of market performance, Dr Reddys Laboratories has delivered a -0.2% return over the last week, a 1.65% return over the past six months, and a 9.71% return year-to-date. The company’s current market capitalization is ₹105980.1 crore, with a 52-week high of ₹1421.49 and a low of ₹1063.96.

As of November 6, 2024, analysts remain cautious regarding Dr Reddys Laboratories, with 4 analysts recommending a Strong Sell, 10 suggesting a Sell, 9 advising Hold, 4 recommending Buy, and 6 advocating for Strong Buy. The consensus recommendation is currently to Hold, reflecting a wait-and-see approach as the company navigates its financial challenges.

Dr Reddys Laboratories Financials